Triple Net Lease Property For Sale Date November 10, 2016
The Boulder Group is pleased to exclusively market for sale a single tenant, new construction, triple net lease property located in Delavan, IL. Delavan is part of the Peoria Metropolitan Statistical Area. The 10,566 square foot triple net lease property is strategically located along East 4th Street which is the primary thoroughfare in the trade area. This store is a relocation of a previously successful Dollar General. The Dollar General was constructed in 2015. There are over 14 years remaining on the Dollar General lease which expires on November 30, 2030. The lease features 10% rental escalations in each of the five 5-year renewal option periods. This absolute triple net lease features no landlord responsibilities.
Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. On October 15, 2015, Standard & Poor’s upgraded Dollar General from BBB- to BBB. Dollar General is publicly traded on the New York Stock Exchange (DG) with a market capitalization in excess of $23 billion. As of March 23, 2016, Dollar General operated 12,483 stores located in 43 states.
INVESTMENT HIGHLIGHTS
- Investment grade rated tenant (S&P: BBB)
- Long term lease with approximately 15 years remaining
- 10% rental escalations in each renewal option period
- Absolute triple net lease with no landlord responsibilities
- New construction (2015)
- Located along the area’s primary thoroughfare
- Relocation of a previously successful Dollar General store